ATLANTA: March 09, 2018. Waymo, the technology company that is part of Google, is…

Alibaba’s “outstanding” Q2 revenue

HANGZHOU, China: August 11, 2016. The Alibaba Group has reported a 59 percent increase in revenue to US$4.83 billion for Q2 2016 ending June 30. However, net income fell 77 percent to US$1.07 billion compared to Q2 2015 that saw one-off gains from the sale of investments.

Revenue for the quarter from Alibaba's retail commerce business in China was US$3.5 billion, or 73 percent of total revenue, an increase of 49 percent over the same quarter last year.

International commerce retail revenue was US$168 million, an increase of 123 percent year-on-year, as the company recruited more merchants in the U.S., Europe, Japan, Korea, Australia and New Zealand, particularly in food, personal and health care categories.

"Alibaba Group had an outstanding quarter. Our results show the scale and leverage of our ecosystem, as we strengthen our competitive positions in core commerce, cloud computing and digital media and entertainment," said CEO Daniel Zhang. "The acceleration of our revenue growth reflects the deep value propositions that we bring to our customers. We are changing the way our 434 million active buyers engage with our platform, as we introduce social, community and personalization driven by smart data into our e-commerce marketplaces," he declared.

During the quarter, Alibaba's Cainiao Network logistics platform enabled the delivery of 42 million packages per day by over 1.7 million personnel via 180,000 delivery stations throughout China provided by Cainiao Network's partners.

"We delivered excellent results this quarter. The 59 percent revenue growth for the company overall and the 49 percent revenue growth of our China retail marketplaces represent the highest growth rates we've achieved since our IPO," said CFO Maggie Wu. "We passed an important milestone this quarter in achieving higher monetization of mobile users than non-mobile users for the first time, reflecting the success of our strategy to stay ahead of the curve by embracing mobile," she added.